Bitcoin has started the march to higher highs before the upcoming halving in April, yet Hive seems to not moving and evening falling against Bitcoin right now.
Although the volume is low with Bitcoin, Hive reached a new recent low of 650 sats per Bitcoin and the trend seems to point lower. Of course, TA isn't a foreseer of the future, but it paints a picture.
Looking at the yearly chart, Hive hasn't been over $0,50 for over a year and it seems to only just manage to stay at $0,30. The time is right for Hive to go up!
It is clear that Hive isn't one of the hyped tokens or talked about narratives. But we do have some new games launching that are looking exciting though such as Moon Karts and Holozing. This should create some fomo and push Hive higher. We also have rebellion for Splinterlands, so there is plenty going on on Hive.
A higher Hive price is certainly whats needed in the community and to attract new users. There seems to be some debate whether to reduce the HBD % rate which has been a drag on the Hive price without any user growth. We had for the first time a drop to 19% recently. Will there be any further moves?
Hive isn't the only chain that is suffering without any pump so far, there are a few other chains that have been stagnating and hoping on a pump. Will all altcoins pump regardless? How much will Hive go up this bull run? It is hard to know when the alt season proper will start once Bitcoin has done its thing.
Some other tokens are waiting for a nice move like MATIC, WAX and CRO too. Have they been building their communties and trying to grow the same as Hive? Only time will tell.
Thanks for reading.
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Title image created with clipart used under canva pro license and Hive logo.
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